Updated: 18/08/17 : 07:36:54
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Profit warning at Sligo Champion's owners due in part to Sligo man's legal battle

A profit warning issued late last month by the owners of the Sligo Champion, International News & Media (INM) was in part due to the long-running legal saga with Sligo man Martin McDonagh.

The 17-year libel action taken by McDonagh over the INM's title the Sunday World describing him as a 'Traveller drug king' was finally settled last month on the steps of the Supreme Court, just ten minutes before the parties were to hear the judgment to be delivered by the then Chief Justice Susan Denham.

The judgment was believed to recommend a figure of €125,000 rather than the €900,000 originally awarded however the amount was redacted in the subsequently released judgment.

The Sunday World had offered between €75,000 and €100,000 to settle the case.

McDonagh also received his legal costs which are believed to have been in the region of €500,000.

The personal settlement remains confidential.

Another case, which for legal reasons cannot be identified, saw two litigants suing for libel and invasion of privacy costing the Sunday World a whopping €750,000.